You will prepare a static master budget, budgeted financial statements and a flexible budgetvariance analysis for Karry No Key, Inc. which will sell karaoke machines.
Assumptions: You plan to form Karry No Key on April and expect the following:
Invest in exchange for stock
Purchase delivery truck with cash
with $ salvage value and expected useful life in years
Sales increase per month
Collections in month of sale
Collections of remainder in following month of sale
Desired ending inventory of next month's expected sales
Payments in month of purchase
Payments of remainder in following month of purchase
Other operating expenses per month to be paid in month incurred
table$$
Please fill out all yellow slots.
